Lic premium

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MALAY DAS (Querist)
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28 January 2013 dear sir
deposited of LIC premium treated as investment or not in balance sheet if yes
there is no option in investment there only in long term investment a coloumn
govt securities and in short term envestment shares, debantures etc.so please
advivice me tretment of deposited lic premium in b/s. thanks......

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 January 2013 You can debit the premium amount to Capital Account, in spite of showing in the balance sheet.
.
You can show it as Other Assets if want to show in the balance sheet.
.

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